As mobile and online search continue to grow at exponential levels, much has been written and studied on how to market to consumers through video. Less has been discussed about the value of B2B online video as an effective means of increasing sales.
Fortunately Google and Forbes Insights recently paired up to conduct a study on how video has impacted B2B. They surveyed 306 US executives whose companies report sales of over $500M. Of these executives, 58% held C-level titles and the reminding 43% were at the senior, decision-making level. These executives came from a variety of industries including finance, information technology, business operations and management.
According to the survey, 83% of executives claim to be watching more online video than they were the previous year. And they aren’t just watching videos of kittens and kids, either. They are actually consuming work-related content. 52% are watching work-related videos on YouTube, while an impressive 75% watch videos on business-related websites.
We Know Decision Makers Watch Videos. So What?
One of the great things about the Google/Forbes study is that they didn’t simply ask respondents whether or not they watch video. But they actually asked respondents what they do after watching a video, and the findings are fairly interesting.
65% of the respondents reported that that they have clicked through to a potential vendor’s website after viewing an online video and just about half of them (53%) were motivated to conduct independent research about that vendor. A little less than half (but hovering right around that halfway mark) of executive respondents were motivated to initiate direct contact with the vendor after viewing their video.
Younger executives are actually more motivated to make an actual purchase after watching an online video. 51% have been motivated to make a direct business-related purchase after watching an online video. Older executives are more likely to look for more information before making a purchase. YouTube, however, doesn’t seem to motivate executives to take too much further action in executives over 40 years of age. Around 60% took no further action after watching a YouTube video with business-related content. So placement is a critical factor in whether or not executives will be motivated to learn more about you based on your B2B online video content.
Planning Your B2B Online Video Content Strategy
Producing a B2B online video or video series requires a unique attention to strategy. It helps to know where your videos will be shown before mapping out your plans for content. If you are pushing content straight to YouTube, the Google/Forbes study indicates executives are more likely to respond to:
- Customer Tutorials
- Product Demos
- Product Reviews
If your content is going to be shown on business or industry-related sites, executives are more likely to respond to:
- Business News
- Business Insight
- Product Reviews
What Does This Mean for Your Business?
Based on all of this information, it would stand to reason that if this is your first foray into the world of video marketing, you may want to put your dollars into demos, reviews and product insight. It also may help to diversify by producing several types of videos and pushing them out through different channels. But now is the time to start strategizing your video campaign. There is no denying that executives take action based on video, and as younger executives begin to take over and older execs retire, this trend will continue to grow. A well-planned and professionally launched video marketing campaign directed at decision makers can have a real impact on inquires and sales for your B2B company.
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